Weibo (NASDAQ:WB) Shares Gap Down – What’s Next?

Shares of Weibo Co. (NASDAQ:WB) gapped down before the market opened on Friday . The stock had previously closed at $8.97, but opened at $8.69. Weibo shares last traded at $8.93, with a volume of 361,407 shares trading hands.

Analyst Ratings Changes

WB has been the subject of a number of recent research reports. Benchmark reiterated a “hold” rating on shares of Weibo in a research note on Wednesday. StockNews.com cut Weibo from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Nomura Securities raised Weibo to a “hold” rating in a report on Monday, August 26th. Morgan Stanley reduced their target price on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, August 23rd. Finally, Citigroup increased their price target on shares of Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Weibo currently has an average rating of “Hold” and a consensus price target of $10.23.

Weibo Price Performance

The company has a market capitalization of $2.09 billion, a PE ratio of 6.11 and a beta of 0.24. The company has a quick ratio of 2.34, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average is $9.15 and its 200-day moving average is $8.51.

Weibo (NASDAQ:WB) last posted its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.38 by $0.10. The firm had revenue of $437.90 million for the quarter, compared to the consensus estimate of $437.97 million. Weibo had a net margin of 21.30% and a return on equity of 11.03%. The business’s revenue was down .5% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. Equities analysts predict that Weibo Co. will post 1.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WB. Deltec Asset Management LLC bought a new position in shares of Weibo in the second quarter worth approximately $82,000. Seven Eight Capital LP purchased a new stake in Weibo during the 2nd quarter valued at $110,000. Creative Planning bought a new stake in Weibo in the 3rd quarter worth $112,000. Bayesian Capital Management LP purchased a new position in shares of Weibo in the first quarter valued at about $123,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Weibo by 17.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock valued at $134,000 after acquiring an additional 1,970 shares during the period. 68.77% of the stock is owned by institutional investors.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute content in the People’s Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.